Herman Cain on Energy & Oil

Republican Businessman & Talk-Show Host

Loosen government's grip; expand domestic energy resources

America is a land blessed with abundant natural resources and the capability of the people to obtain them. From the oil-rich states of Louisiana and Alaska to the mighty dams along rivers, the options for many forms of energy are real and plenty. Still,
liberals continue to perpetuate the misunderstanding that the high energy consumption of a thriving nation and conservation of our precious planet are at odds with one another.

Because they have perpetuated such a myth, liberals have forced excessive
environmental regulations that have stifled our domestic energy production, and instead, forced American consumers to rely far too heavily upon foreign oil. In many cases, this oil comes from Middle Eastern countries, some of whom are not friendly to the
US, who end up dictating the prices of our energy consumption. In return, Americans have seen no improvements in our environment or in the cleanliness of our air. We must expand our domestic energy resources by loosening government's grip responsibly.

Source: Campaign website, www.hermancain.com/ "Issues"
, May 21, 2011

Establish real energy independence, with existing resources

Q: A gallon of gas is now over $4. What would President Cain do to alleviate skyrocketing gas price?

A: Contrary to what Pres. Obama said, when he stated there's wasn't anything we can do in the short term.
He can establish a real energy independence plan. We have all of the resources we need in this country to establish energy independence if we had the leadership. The dynamics that impact the price of oil--and ultimately the price of gasoline:
Getting it out of the ground; refining and distribution; and speculators.
If the world market believed that we were serious about energy independence, and we were going to utilize all of our existing resources, the speculators would stop speculating up, and they would speculate down until we got our own oil out of the ground.

Declare and implement a "drill here drill now" strategy

Now that people are feeling the pain at the pump, he blames oil speculators for high gas prices, which are now double what they were two years ago. Remember, that's about the time President Obama took office. And, he says there is nothing that can
be done in the short term to ease the pain at the pump.

With all due respect, Mr. President, there is something you could do to ease the pain at the pump. Namely, declare and implement a "drill here drill now" strategy.
And remove the ridiculous restrictions on shale oil deposits available out west.

The very speculators you are blaming for the run-up in gas prices would quickly retreat if they thought you were serious about an energy independence plan
to maximize all of our existing natural resources. The problem is supply and demand, and expectations about the changes in those dynamics. That's what drives gasoline prices at the pump.